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A firm can lease a truck for 5 years at a cost of $33,000 annually. It can instead buy a truck at a cost of

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A firm can lease a truck for 5 years at a cost of $33,000 annually. It can instead buy a truck at a cost of $83,000, with annual maintenance expenses of $13,000. The truck will be sold at the end of 5 years for $23,00O. a. What is the equivalent annual cost of buying and maintaining the truck if the discount rate is 15%? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Equivalent annual cost b. Which is the better option? Buy O Lease

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